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Surety Bonds

Free up cash and improve your liquidity with performance surety bonds

A Performance Surety Bond provides a financial security to the beneficiary, the project principal, against a contractor not performing, or defaulting, on a contract during the construction phase or defects period.

Providing financial security

A Performance Surety Bond provides a financial security to the beneficiary, the project principal, against a contractor not performing, or defaulting, on a contract during the construction phase or defects period.

The bond facility limit is typically $2m plus, against which individual performance bonds are issued.

Performance Surety Bonds are widely accepted by the private and public sectors, (including federal, state and local government departments), as an alternative to bank guarantees.

Is a Surety Bond for your business?

There are a number of key benefits of surety bonds across a range of industry sectors.

The key benefits are:

Release your cash for growth (i.e. take on more contracts), acquisitions or debt reduction

Unsecured, no tangible asset or collateral required

Improves your balance sheet and liquidity

Allows for greater flexibility and opportunities

Works alongside your existing bank facilities

Risk mitigation, less exposed to bank credit decisions or reviews

The typical industry sectors are:

Construction

Engineering

Mining

Oil and gas

Building

Other Types & Bond Qualification

Other types of Bonds are: 

Bid / tender bonds

Advance payment bonds

Cancellation of import/export licences

Off site materials bonds

Who can qualify for a Bond?

Typically a turnover in excess of $20 million

Must have a minimum net tangible worth of $1m

Bid / tender bonds

Bid / tender bonds

Positive working capital

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